With the announcement of the launch of Shibarium there are great expectations about Shiba Inu
Hello friends Shiba Inu is on fire! And everyone is starting to get excited for the release of Shibarium. Now one of the things is everyone is excited for Shibarium.
But analyzing a little constantly, Shiba Inu is being burned every day for each transaction made, Without Including the monthly burns of five billion Shiba Inu coins from Shibarium.
I have read so many of these articles, so many of these twitter, So many of these videos on social networks promoting the idea, that Shibarium Is going to burn 5 billion Shiba Inu coins a month. Now, I don't think we're going to reach those levels, but I definitely hope that if we do reach those levels, if some kind of miracle happens in the burning of Shibarium,
Today I read some twitters of people anticipating over five billion burns. Here's the only reason I'm so skeptical of those numbers, and I want to bring a sense of realism back to the Shiba Inu. If we have exaggerated expectations and they are not met, it will create a negative price action, the same happens with any type of expectation,
How the profits in a company or an expectation of income for a stock, anything like that. You can have very high expectations and still perform well. Let's say you burn a hundred billion Shiba Inu coins a month, that's more than ever burned before, that's extremely good news.
But because it would be far below expectations, it would create a bad taste in the mouth, it would generate some negative attention for the Shiba Inu coin and therefore the price could go down. I don't want that to happen, so we can improve on these expectations.
Why am I so skeptical that Shiba Inu will not reach high levels this year? And it's simply because of the numbers that I've seen on the testnet, for example, the Puppy Net testnet or the Shibarium testnet. Regarding the burn fee, a lot of people are saying, "Okay, great, the burn fee is going to be split between the base fee and the premium fee, and then 70% of the base fee is going to be burned." .
Well, it's not a 50-50 split based on what we've been seeing. All of those testnet transactions were worth about a tenth of a dollar, roughly 10 cents. They were around 10 cents in value or one tenth of a BONE, and in those transactions, there were four zeros and one for the premium fare, and twelve zeros and one for the base fare.
To understand that, I'll put it this way, it would take a trillion transactions to burn a dollar, and in the months that the Puppy Net testnet was active it never did more than a trillion transactions. So you wouldn't even have burned a dollar worth of Shiba Inu.
So it would take 25 billion transactions at current rates to burn a dollar. So we definitely need to see those fees increase if we want the Shiba Inu price to hit levels near 10 cents.
I think we'll see those rates go up in the future have to wait. I know that the Shiba Inu ecosystem team wants to keep a very low fee to use Shibarium. It's part of his idea that anyone in the entire world could use Shibarium, and this whole world domination scheme by Shytoshi and all that. Therefore, the rates will be very low at the moment. So I'm only excited about one thing right now, and that's the release of Shibarium.
 |  |
|---|
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
Link Twitter:
https://twitter.com/joel_jai1/status/1690607210634653696
Dear @joeljaimes1982 ,
We appreciate your active participation and contributions to our community. To ensure a positive environment for all members, we have implemented a set of guidelines to maintain respectful and constructive discussions while upholding community guidelines.
This is a goodnews for shiba inu holders however, you should have given us the source to your information
Now Engage, Connect, and Inspire Each Other to Reach New heights.
Thank You.